As gold weakens, investor interest in precious metals, including silver, often wanes, reducing demand. Since silver and gold typically move in tandem, gold’s downturn directly impacts silver prices.
Silver Prices Soar as Demand Rises and Supply Tightens
Silver prices have surged this year, with projections suggesting they could climb from $30 to $100 per ounce in the coming years.
This increase has triggered a wave of new listings on the ASX, as companies aim to capitalize on the booming silver market.
Silver’s diverse applications, from industrial use to renewable energy, are fueling its rising value.
Global attention is growing, with companies like Andean Silver resuming operations in Chile and Sun Silver exploring opportunities in Nevada.
Silver’s role in renewable energy, especially in solar panels, combined with its status as a critical mineral, is driving demand.